Trade Balance in Nigeria
Nigeria - Trade BalanceEconomic growth slowed in the third quarter, driven by easing momentum in the non-oil sector as industrial output tumbled and services and agricultural activity lost steam. However, the pace of expansion remained solid nonetheless, and the oil sector’s contraction eased in the quarter. Turning to the final quarter of the year, the PMI rose again in November, pointing to firming economic momentum. Meanwhile, in late November the government announced the abolishment of fuel subsidies from mid-2022 onwards. The subsidy has benefited those who can afford a vehicle, rather than low-income families. Instead, the government aims to introduce a monthly allowance of USD 12 for low-income households for six months to a year. That said, the implementation could be delayed given the government’s history of backtracking on price liberalization.
Nigeria - Trade Balance Data
|Trade Balance (USD billion)||-6.4||-0.5||13.1||20.5||2.9|
5 years of economic forecasts for more than 30 economic indicators.
Source: Central Bank of Nigeria
|Bond Yield||11.10||0.0 %||Dec 31|
|Exchange Rate||306.5||3.08 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
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January 19, 2022
Consumer prices rose 1.82% in December, up markedly from November’s 1.08%.
December 15, 2021
Consumer prices rose 1.08% in November, up from October’s 0.98% increase.
December 1, 2021
Private-sector operating conditions in Nigeria improved at an accelerated pace in November, with the Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) rising to 55.0 from 54.1 in October.
November 23, 2021
On 7 October, President Muhammadu Buhari presented the government’s proposed budget for 2022.
Nigeria: Central Bank stays put in November; suggests stance will remain unchanged in the months ahead
November 23, 2021
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) stood pat at its 22–23 November meeting, leaving all policy parameters unchanged.